Construction Partners Inc
For the period ended Mar 20, 2025. Filed Jan 24, 2025.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Mar 20, 2025 · Filed Jan 24, 2025
ROAD$77.18-0.5%Stored close · as of Nov 6, 2026
Contents
Summary Compensation Table
The following table summarizes the compensation earned by our NEOs for the fiscal years presented.
| Salary · Bonus · Stock Awards · Non-Equity Incentive Plan Compensation · All Other Compensation · Total | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Name and Principal Position | Year | ($) | ($)(2) | ($)(3) | ($) | ($)(4) | ($) | |||||||||
| Fred J. (Jule) Smith, III | 2024 | 707,308 | 959,665 | 964,775 | 735,000 | 74,438 | 3,441,186 | |||||||||
| President and Chief Executive Officer | 2023 | 605,769 | 370,281 | 793,024 | 615,000 | 62,318 | 2,446,392 | |||||||||
| 2022 | 571,396 | 250,000 | 1,179,480 | 287,500 | 74,251 | 2,362,627 | ||||||||||
| Gregory A. Hoffman (1) | 2024 | 438,462 | 163,195 | 418,425 | 337,500 | 38,566 | 1,396,148 | |||||||||
| Senior Vice President and Chief Financial Officer | 2023 | 364,231 | 53,556 | 264,784 | 300,000 | 36,993 | 1,019,564 | |||||||||
| John L. Harper | 2024 | 492,615 | 191,344 | 433,125 | 371,250 | 39,047 | 1,527,381 | |||||||||
| Senior Vice President | 2023 | 478,000 | 60,769 | 433,932 | 254,625 | 34,833 | 1,262,159 | |||||||||
| 2022 | 453,597 | 50,000 | 638,976 | 171,375 | 57,359 | 1,371,307 | ||||||||||
| Robert P. Flowers | 2024 | 485,635 | 228,764 | 428,750 | 367,500 | 35,700 | 1,546,349 | |||||||||
| Senior Vice President | 2023 | 459,000 | 105,869 | 416,028 | 348,750 | 34,372 | 1,364,019 | |||||||||
| 2022 | 437,365 | 20,000 | 616,756 | 82,688 | 57,103 | 1,213,912 | ||||||||||
| M. Brett Armstrong | 2024 | 480,769 | 167,365 | 428,750 | 367,500 | 35,555 | 1,479,939 | |||||||||
| Senior Vice President | 2023 | 438,462 | 103,113 | 402,600 | 337,500 | 49,518 | 1,331,193 | |||||||||
| 2022 | 396,846 | — | 558,846 | 150,000 | 55,063 | 1,160,755 | ||||||||||
| (1) | Mr. Hoffman was not an NEO prior to fiscal 2023. |
| (2) | For fiscal 2024, the amounts presented include (a) cash bonuses paid during the fiscal year for fiscal 2024 performance in the following amounts: for Mr. Smith, $550,000, and for Mr. Flowers, $40,000, (b) cash bonuses paid subsequent to fiscal year-end for fiscal 2024 performance in the following amounts: for Mr. Smith, $65,000, for Mr. Hoffman, $62,500, for Mr. Harper, $8,750, for Mr. Flowers, $12,500, and for Mr. Armstrong, $7,500, and (c) bonuses paid in the form of immediately vested Class A common stock subsequent to fiscal year-end for fiscal 2024 performance having the following grant date fair market values: for Mr. Smith, $344,665, for Mr. Hoffman, $100,695, for Mr. Harper, $182,594, for Mr. Flowers, $176,264, and for Mr. Armstrong, $159,865. |
| (3) | These amounts reflect the aggregate grant date fair value of equity-based awards made during the applicable fiscal year, calculated in accordance with Accounting Standards Codification Topic 718 (“ASC 718”), assuming no forfeitures. A discussion of the assumptions used in the calculation of the amounts is included in Note 14, “Share-Based Compensation” in the audited consolidated financial statements included in our 2024 Annual Report. The amount for each respective year presented includes the value of LTIP-A awards with time-based vesting criteria granted during the applicable fiscal year. In addition, the amounts shown include the fair value at the grant date of the LTIP-B awards made during the respective fiscal years for the ensuing three-year performance periods, based on the probable outcome of the performance conditions. The grant date fair values of the respective LTIP-B awards made during each of the fiscal years presented assuming achievement of the highest level of performance conditions (and application of the maximum possible TSR modifier) are as follows: (a) for Mr. Smith, $800,910 in fiscal 2022, $921,816 in fiscal 2023 and $1,109,369 in fiscal 2024, (b) for Mr. Hoffman, $234,014 in fiscal 2022, $271,723 in fiscal 2023 and $382,156 in fiscal 2024, (c) for Mr. Harper, $424,325 in fiscal 2022, $484,646 in fiscal 2023 and $466,988 in fiscal 2024, (d) for Mr. Flowers, $409,499 in fiscal 2022, $464,621 in fiscal 2023 and $462,131 in fiscal 2024, and (e) for Mr. Armstrong, $371,385 in fiscal 2022, $449,635 in fiscal 2023 and $462,131 in fiscal 2024. For more information regarding the long term equity incentive compensation awarded to our NEOs during fiscal 2024, see the discussion under the heading “Long-Term Equity Incentive Compensation”. The amounts shown for fiscal 2022 include the fair value at the grant date of LTIP-B awards for the three-year performance period ending September 30, 2024, based on the probable outcome of the performance conditions. For information regarding the actual payout of the LTIP-B awards granted in 2022 for the three-year performance period ended September 30, 2024, see the discussion under the heading “Long-Term Equity Incentive Compensation – 2022 LTIP-B Awards that Vested in 2024.” |
| (4) | For fiscal 2024, the amounts in this column include Company-paid health insurance premiums and 401(k) plan matching contributions made by the Company. In addition, these amounts include the following items described in the column entitled “Other” in the table below: (a) for each NEO other than Mr. Smith, the value of his personal use of a Company-owned vehicle, and for Mr. Smith, a vehicle allowance in the amount of $25,974, (b) for each NEO other than Mr. Flowers, Company-paid premiums for long-term disability insurance; (c) for each NEO, Company-paid group term life insurance premiums; and (d) for Mr. Harper, Company-paid premiums for accidental death and dismemberment insurance. The value to each applicable NEO of his personal use of a Company-owned automobile is based on the incremental cost to the Company of such use, which the Company has calculated as the expense to the Company associated with the NEO’s use of such automobile during the applicable period. |
| Health Insurance | 401(k) Match | Other | Total | |
|---|---|---|---|---|
| Name | ($) | ($) | ($) | ($) |
| Smith | 18,673 | 28,134 | 27,631 | 74,438 |
| Hoffman | 19,731 | 16,093 | 2,742 | 38,566 |
| Harper | 19,538 | 15,370 | 4,139 | 39,047 |
| Flowers | 18,322 | 13,800 | 3,578 | 35,700 |
| Armstrong | 20,365 | 12,662 | 2,528 | 35,555 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.